Athleisure Market Size US$549.41 Billion By 2028: Grand View Research

11 September 2021: The global athleisure market size is anticipated to reach USD 549.41 billion by 2028, registering a CAGR of 8.6% over the forecast period, according to a new report by Grand View Research, Inc. People require attire that is both comfortable and stylish. Athleisure is defined as a combination of athletic and casual leisure activities and thus, the sector is growing at a rapid pace.

It is a popular category because it taps into several broad trends, including a global shift toward consumers wearing more casual clothing, consumers seeking comfortable clothing, and a more health-conscious consumer engaging in more athletic activities and requiring performance clothing for these activities. The mass athleisure type segment accounted for the largest share of more than 64% in 2020 and is expected to expand at a steady CAGR over the forecast period.

The demand for highly comfortable clothes with sports features has increased in recent years and wide pockets and elastic knot elements have become important products for carrying large mobile phones, purses and a few other daily essentials. The growing popularity of the utility fashion trend has spurred the demand for utility-active apparel. The yoga apparel segment accounted for the largest revenue share in 2020 and is also estimated to register the fastest CAGR from 2021 to 2028.

According to GQ, at least a dozen new businesses have joined the market with identical origin stories in the previous five years. To mention a few, the British companies Ashmei and Iffley Road; the Danish brand Doxarun and the American brands Isaora and Tracksmith, with the former focusing on high-end training gear and parkas and the latter investing in a retro Ivy League look. Grand View Research has segmented the global athleisure market on the basis of type, product, end user, distribution channel and region.

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